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Palm Tumbles on Earnings Warning;
Nasdaq Sees 1.7% Gain for Week

By

Andrew LaVallee and

Emily Flitter

Updated Dec. 7, 2007 6:29 p.m. ET

Palm shares tumbled Friday on the smartphone maker's earnings warning, while Imax surged after signing a deal that will double its North American footprint. The Nasdaq Composite Index drifted lower as investors took in the latest jobs data but posted a 1.7% gain for the week.

The Nasdaq Composite fell 2.87 points, or 0.1%, to close at 2706.16....